Wyld Networks enters into a loan agreement of approximately SEK 4.3 million to provide working capital and to fund ongoing production and delivery of product to customers
Today, December 31, 2024, Wyld Networks AB ("Wyld Networks" or the "Company") has entered into a loan agreement regarding a loan of approximately SEK 4.3 million.
The Company has today entered into a loan agreement with Olsen Fond & Försäkring AB (the "Lender") regarding a loan of approximately SEK 4.3 million. The loan has a set-up fee of 6.0 percent and carries a monthly interest rate of 2.0 percent. The loan matures on September 1, 2025. However, the Company has the right to repay the loan in advance. The loan will provide the Company with working capital and to fund the ongoing production and delivery of product to the Company's customers.
The Lender can provide further funding should the Company require additional working capital.
For further information about Wyld Networks, please contact:
Alastair Williamson, CEO Wyld Networks
E-mail: alastair.williamson@wyldnetworks.com
Tel: +44 7 824 997 689
About Wyld Networks
Wyld Networks develop and sells innovative wireless technology solutions that enables affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions are mainly targeted to wireless connectivity for the Internet of Things (IoT) and people.
Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.
The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market.
Certified Adviser to Wyld Networks is Mangold Fondkommission AB.
Read more on: www.wyldnetworks.com
This information constitutes information that Wyld Networks is obligated to disclose under the EU Market Abuse Regulation. The information was provided, through the agency of the above-mentioned contact person, for public release on December 31, 2024, at 18:00 CET.